StockNews.com Initiates Coverage on RBC Bearings (NASDAQ:ROLL)

Jun 03, 2023

Research analysts at StockNews.com initiated coverage on shares of RBC Bearings (NASDAQ:ROLL - Get Free Report) in a research report issued to clients and investors on Sunday. The firm set a "hold" rating on the stock.

RBC Bearings stock opened at $229.31 on Friday. RBC Bearings has a 1-year low of $152.90 and a 1-year high of $264.94. The firm has a market capitalization of $6.63 billion, a P/E ratio of 111.32 and a beta of 1.34. The company's 50-day moving average is $217.71 and its 200 day moving average is $223.11.

A number of institutional investors have recently modified their holdings of ROLL. Norges Bank purchased a new position in RBC Bearings during the fourth quarter valued at approximately $41,855,000. Durable Capital Partners LP increased its holdings in RBC Bearings by 9.0% during the fourth quarter. Durable Capital Partners LP now owns 1,855,997 shares of the company's stock valued at $388,553,000 after buying an additional 153,744 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in RBC Bearings by 3.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,980,496 shares of the company's stock valued at $623,967,000 after buying an additional 103,450 shares during the period. Principal Financial Group Inc. increased its holdings in RBC Bearings by 1,195.0% during the fourth quarter. Principal Financial Group Inc. now owns 58,663 shares of the company's stock valued at $12,281,000 after buying an additional 54,133 shares during the period. Finally, Jane Street Group LLC increased its holdings in RBC Bearings by 1,462.9% during the third quarter. Jane Street Group LLC now owns 32,820 shares of the company's stock valued at $6,820,000 after buying an additional 30,720 shares during the period.

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.

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